Posted AT 6:40 PM EST on 06/08/08
AIG piles on another loss
NEW YORK — American International Group Inc., the world's largest insurer, posted its third consecutive quarterly net loss Wednesday, hurt again by the writedown of derivatives linked to bad mortgage investments.
The news sent its shares, which have more than halved over the past year, down more than 7 per cent to $27 (U.S.) in after-market trading.
AIG said its second-quarter net loss was $5.36-billion, a loss of $2.
The full text of this article has 253 words.
To continue reading this article, you will need to purchase this article.
This article is NOT available for licensing for re-use and redistribution.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
